Gross

Mountainview Energy Ltd. announced it intends to acquire a 20% interest in approximately 67,000 gross acres (about 13,400 net acres) in the Bakken/Three Forks Shale in a stock deal valued at about C$21.5 million. The parcels are located in the Medicine Lake Prospect, which is in Divide County, ND, and Richland, Roosevelt and Sheridan counties, MT. The acquisition will increase Mountainview’s position in the Williston Basin to approximately 25,400 net acres.

EQT Corp. recently announced early results of a new completion technique in the Marcellus Shale that it said could increase production more than 50%.

Apache Corp. has retained Scotia Waterous (USA) Inc. to sell about 49,500 net acres (80,000 gross) in East Texas, which at the end of 1Q2011 were producing a total of 41 MMcfe/d net. The acreage to be sold includes 490 proved developed producing wells, which are 80% operated. Proved reserves are estimated at 233 Bcfe, with proved and probable reserves of 338 Bcfe. Most of the total proved and probable reserves are in Freestone, Nacogdoches and Upshur counties; additional acreage to be sold is in Camp, Rust, Angelina, Gregg, Panola, Marion, Harrison, Leon and Limestone counties. Production comes from several producing intervals that include the Bossier, Cotton Valley lime, Travis Peak and Rodessa formations. The bid due date is Aug. 4; the effective date is Sept. 1. For information contact Edward Katterhagen at (713) 437-5064.

The Canadian subsidiary of Apache Corp. has dropped out of a joint venture (JV) with Corridor Resources because it said poor results from two natural gas test wells in New Brunswick’s emerging Frederick Brook Shale did not justify spending more.

W&T Offshore Inc. has made a “transformative acquisition” to grow reserves and production by agreeing to acquire about 21,900 gross leasehold acres (21,500 net acres) for $366 million in the West Texas Permian Basin in Gaines, Dawson, Andrews and Martin counties, the company said last week.

W&T Offshore Inc. has made a “transformative acquisition” to grow reserves and production by agreeing to acquire about 21,900 gross leasehold acres (21,500 net acres) for $366 million in the West Texas Permian Basin in Gaines, Dawson, Andrews and Martin counties, the company said Tuesday.

Recovery Energy Inc. announced Monday that it has closed on a $12.3 million cash-and-stock deal to acquire oil and gas leases on 8,060 net acres from Houston-based Wapiti Oil & Gas LLC. The leasehold is located primarily northwest of the prolific Silo field in Laramie County, WY. The Wapiti sale follows Denver-based Recovery’s acquisition last month of approximately 1,700 acres in Weld County, CO and about 6,600 net acres in Goshen County, WY from various private individuals for $1.9 million in cash and stock. The combined acquisitions bring Recovery’s holdings in the Denver-Julesburg Basin to 148,000 gross acres (134,000 net acres).

EQT Corp. grew its proved natural gas reserves by 28% in 2010, ending the year with 5,220 Bcfe. The growth came due to drilling in the Marcellus Shale, continuing improvement in the estimated ultimate recovery of Marcellus wells, as well as an increase in the projected number of wells to be drilled in the Marcellus over the next five years, EQT said.

Southwestern Energy Co., which has built fortunes and natural gas reserves from success in the Fayetteville Shale, saw its production jump by almost a third in 2Q2010 from the same period a year ago.